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Economy of Orukany
The economy of Orukany is characterized by its strong free market system, leading the way in its region. For the past thirty years, the Orukan economy has enjoyed an annual economic growth (GDP) of about 9%. Inflation is currently at about 2%, and the unemployment rate is currently 7.9% of the labour force. Currently, Orukany is working to establish trade relationships with its neighbours. Overview The economy of Orukany is a leader in southern Middle Terra. The economy of Orukany is as diverse as Orukany itself, and is seen as a leader in growth. The government of Orukany in the past has played a role in the development of the economy, through strict regulation and sometimes periods of complete government control in a planned economy. In recent years the government has almost completely privatized the market, allowing rapid growth in manufacturing such as textiles and electronics, to finance, agriculture and trade. The more populated provinces have led this transition and have become more urbanized in recent years, a change from the historic agrarian society. This has led to a widening economic gap between the rural and urban citizens, and the larger, populous provinces and the smaller provinces. Manufacturing The manufacturing industry is spread throughout Orukany, but is mainly concentrated in the provinces of Urkadia, Anurak, and Masoka. The manufacturing industry has led the way in the modernization and urbanization of the nation, employing close to 40% of the population. The manufacturing industry is dominated by textiles, electronics, plastics, and metalworking, which employ more than 35% of the nations work force. Growing manufacturing industries that employ the remaining manufacturing work force are transportation, including Aerospace and Automotive manufacturing, and pharmaceuticals. Finance With the industrialization of the nation, banks, brokerages and exchanges became a large and important sector of the economy. The Financial Sector is largely based in the cities of Amoundio, Masoka, and Tirenesa, Anurak. The financial sector has been a significant help in the sustained economic growth and larger middle class. Trade As a result from the industrialization of cities, trade has grown to a crucial industry in Orukany. Cities near borders have grown with the help of trade via freight train and truck. Cities on the ocean have experience substantial growth. Polda, Orukany's largest port, handles 30% of the nations gross outbound traffic (including train, ship, truck and aircraft), and close to 70% of the nations ocean vessel traffic. Agriculture The economy of Orukany has historically been based on agriculture, its largest industry. with the industrialization of the nation, agriculture is no longer the largest industry in Orukany. Today, agriculture is still a crucial industry for Orukany. The agriculture industry is spread throughout Orukany, with Masoka the largest producer of agriculture products in Orukany. Agriculture forms the largest industry in the provinces of Hatusa, Hillian, Jansey, and Karreen. GDP breakdown Main Article: GDP of Orukany The following table shows Orukany's national GDP for the past four years, starting in 2374 to the most recent year (2378). The following is Orukany's GDP breakdown for the year 2314 Category:Orukany